UK Government Announces £301 Cost of Living Payment
If you currently live in the UK, chances are you are feeling the stretch from the ever-present cost of living crisis. The rising costs of energy bills are particularly impacting low-income households who spend a larger proportion of their income on energy expenses.
With this in mind the UK government has announced a new £301 cost of living payment to help households with the rising cost of energy bills. This will follow the same criteria as the first and second cost of living payment made in 2022. All payments are tax-free and do not affect existing benefits caps or awards.
The payment will be made automatically to those who are eligible, and will be worth around £11 per week. Read below to find out if you are eligible for the latest cost of living payment.
To be eligible for the payment, you must be one of the following:
- Claiming Universal Credit
- Claiming Pension Credit
- Claiming Income-based Jobseekers Allowance
- Claiming Income-related Employment and Support Allowance
- Claiming Income Support
- Claiming Working Tax Credit
- Claiming Child Tax Credit
You must also have been entitled to one of these benefits on or after 26 January 2023.
Payments will start to be made from 25 April 2023 and the majority of cost of living payments will be made by 17 May 2023. If you do not receive your payment by this date, you should contact HM Revenue and Customs.
How to Check Your Eligibility
You can check your eligibility for the payment online at GOV.UK. You can also call the HM Revenue and Customs helpline on 0300 200 3300.
What You Can Use the Cost of Living Payment For?
The payment can be used for anything you need it for. This could include:
- Paying your energy bills
- Buying food
- Transport costs
- Other essential household bills
If you are struggling with the cost of living, there are a number of other sources of support available. These include:
- The Household Support Fund
- The Warm Home Discount Scheme
- The Energy Price Cap
- The Universal Credit taper rate
With financial insecurity piling pressure on families and the gender pay gap withstanding, women are amongst those most affected by the cost of living crisis.
Our new programme Mind & Money will look to support those through financial pressures and money management. Please get in touch today via email@example.com or call 0151 706 8111 to find out how we can help you.